The shares of ChemoCentryx Inc increased almost 90 percent on Friday. It is considered to be one of the highest increases for company shares in history. The sudden increase came after ChemoCentryx reported that the drug they are currently developing has met its primary aim of minimizing the lavish amount of protein in the urine of diabetes patients that also suffer from progressive kidney disease.
The study for the experimental drug is currently on its mid stage. It showed that a certain dose of this experimental drug, called as CCX140, added into the traditional treatment for the disease showed a positive result, which is the scaling down of the ratio of urinary albumin creatinine after several weeks.
Thomas Schall, the Chief Executive of ChemoCentryx Inc, said in a conference call that there is sufficient data to start thinking about the trial design for the latter stage of the study, in terms of both endpoints and numbers.
If the last part of the study will still be a success, it is already anticipated that the shares of ChemoCentryx Inc will experience another high rise. Aside from that, the study will be very useful in helping many people with diabetes and progressive kidney disease.